What Is a Project Manager

question 43

Multiple Choice

What is a project manager?

• A)an individual who is an expert in project planning and management, defines and develops the project plan, and tracks the plan to ensure that the project is completed on time and on budget
• B)a description of the business need (the problem the project will solve) and the justification, requirements, and current boundaries for the project
• C)a formal, approved document that manages and controls the entire project
• D)a graphical representation of the processes that capture, manipulate, store, and distribute information between a system and its environment

Understand how the selection of factory overhead allocation method affects product cost accuracy.

Know the components of product costs and how factory overhead contributes to them.

Understand the concept and application of activity-based costing in allocating factory overhead.

Recognize the applicability and limitations of overhead allocation methods in both manufacturing and service companies.

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Definitions:

Voice Mechanism

Communication by workers through their union to resolve grievances with an employer.

Worker Turnover

The rate at which employees leave a workforce and are replaced by new personnel.

Capital

Human-made resources (buildings, machinery, and equipment) used to produce goods and services; goods that do not directly satisfy human wants; also called capital goods. One of the four economic resources.

Featherbedding

A labor practice where unions require employers to hire more workers than are necessary, typically to protect or create jobs.